The GST Council is likely to extend the tenure of the National Anti-profiteering Authority (NAA) till 30 November 2020, which dealt with customer complaints regarding not receiving tax cut benefits.
The Council at its 35th meeting is scheduled on June 21st, under new Finance Minister Nirmala Sitharaman, is also likely to consider a proposal to set up one appellate tribunal for north-eastern states, and another one for all Union Territories.
The Finance Ministry is of the view that NAA should be given an extension of one year till November 30, 2020, as the authority continues to receive complaints of profiteering by companies, the official reportedly said.
The NAA came into existence on 30 November 2017, after its Chairman BN Sharma assumed charge. So far, the NAA has passed 67 orders in various cases.
The National Anti-Profiteering Authority (NAA) has been constituted under Section 171 of the Central Goods and Services Tax Act, 2017 to ensure that the reduction in the rate of tax or the benefit of the input tax credit is passed on to the recipient by way of commensurate reduction in prices.
National Anti-profiteering Authority (NAA) is therefore primarily constituted by the central government to analyse whether input tax credits availed by any registered person or the reduction in the tax is passed onto the consumer and he/she is protected from the random price increase for self-interests in the name of GST.
